FuturesCom Investment Publications
Morning Comments, November 12,1998
Dedicated to Excellence in Analysis of Futures Markets
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Support is 8134 to 8119 then 8044. Day traders can buy at 8134, risk 35 pts. Resistance is at 8223, a close over 8223 augurs for a test of 8255 then 8300 to 8314. Day traders can sell at 8255 for a turn lower, risk 40 pts.

Resistance is at 5958, an extended trade over 5960 augurs for a test of 6008 and 6023 to 6035.. Day traders can sell at 6023 for a turn lower, risk 20 pts.

Support is at 5929, day traders can buy at 5929 for a good turn higher, risk 30 pts. Below that support is at 5880 and 5855... Hearty traders can buy at 5880 and hold for higher prices.

Resistance is at 7248 and 7267 beyond that sellers should appear near 7317 and 7348, day traders can sell at 7317 for a turn lower, risk 30 pts.

Support is at 7217 and 7170 to 7143...Day traders can buy at 7170 for a quick bounce risk 30 pts.

Support is at 1.6550 and 1.6514 then 1.6420 and 1.6260

Resistance is at 1.6612 and 1.6646. A close over 1.6612 augurs for an eventual test of 1.6720 and 1.6890.

Support is at 6444 and 6429, day traders can buy at 6430 for a good bounce , risk 30 pts. Resistance is at 6479 and 6509 then 6529 , day traders can sell at 6509 , risk 30 pts.

Support is at 293.70 and 292.80 , under that support t is at 290.5 to 288.30.
Traders can Buy at 288.30 and risk a close under 282.10 for three days in a row.

Resistance is at 295.80, a close over 296 is friendly and augurs for a trade towards
297.2 and 299.0

Nearby Support is at 7115 and 7095 then 7025. Traders can buy at 7115 for a turn higher. Risk a close under 6970 for two days in a row.

Resistance is at 7195 and 7225 then 7290. Day traders can sell at 7290 for a turn lower , risk 100 pts.

* Traders should go long if a close over 7415 occurs.

Support is at 338.0 and 336 then 334 Resistance is at 345 to 346 then 352

On the DownSide: Support is at 496.5 then 491.5 to 489.

Day traders can buy at 491.5 , risk 10 cents

On the Upside. Nearby Resistance is at 503.5 and 512, beyond that a test of 516 is likely. Day traders can sell at 516 , risk 10 cents. However Traders should go long if a close over 508 occurs. Trade Accordingly.

Nearby Support is 1351 and 1346 to 1334. Day traders can buy at 1334 , risk 40 cents.. Resistance is at 1375 and 1383... Beyond that 1400 should trade...

Support is at 4056 to 4040 Day traders can buy at 4046, and risk 100 pts.

Resistance is at 4097 then 4185 and 4310. Day traders can sell at 4310, risk 100 pts...

Resistance is at 3865 and 3920, day traders can sell at 3915 ,risk 50 pts.

Support is at 3755 and 3720 Day traders can buy 3720 , risk 80 pts..

Support is at 583 3/4 and 580 1/2 then 568. Day traders can buy at 5801/2, risk 5 cents. Resistance is at 590 1/2 and 594 3/4, day traders can sell at 594 1/2 , risk 7 cents.

Trade accordingly.

Support is at 149.6 to 148.4 then 142.4 , day traders can buy at 148.4 , risk $ 3.00 Resistance is at 156.5 and 158.5 , day traders can sell at 158.50 , risk $ 3.00.

Support should appear the 2469 to 2461, day traders can buy at 2461 for a bounce, risk 30 pts. Resistance is at 2492 then 2511 to 2519 and 2555.

Support is at 224 3/4 under that 219 3/4 should hold.

Resistance is at 226 3/4, above that 228 3/4 should cap a rally today.

Resistance is at 298 3/4 and 303 to 304, day traders can sell at 298, risk 8 cents.

Support is at 292, below that 290 1/2 should contain a break. Day traders can buy at 290 3/4, risk 8 cents.

Support is at 6725, day traders can buy at 6725 , risk 100 pts. Below that 6680 to 6650 should hold. Resistance is 6810 to 6835 then 6905.

Support is at 829 and 821, day traders can buy at 829 ,risk 20 pts. Below that 823 to 814 should hold.

Resistance is at 847 and 852 then 877 to 882. A close over 882 augurs for a test of 907 to 912, traders can sell short at 912, risk a close over 922 for three days in row

then 828.

Trade accordingly

On the downside, Early support is at 113.60 to 113.00. Day traders can buy at 113.60, risk 200 pts. Under that support is at 112.50 and 110.10 to 109.60.

On the Upside, Early Resistance is at 116.40 to 116.90 and 117.50, a trade over augurs for a test of 118.80 then 119.20 to 120.30 Day traders can sell at 120.30 for a turn lower , risk 150 pts. beyond that resistance is at 123.20.

Resistance is at 1504 to 1506 and 1520 then 1529. Day traders can sell an early rally to 1506, risk 17 pts.

Support is at 6352 then 6292.

Resistance is at 6417 then 6442.

Support is at 3382 and 3342 then 3322.

Resistance is at 3482 and 3527 to 3542.

Support is at 4107 and 4057 then 4007 where it should hold. Day traders can buy at 4057 for a bounce , risk 100 pts.

Resistance is at 4172 to 4187 and 4207. A close over 4177 is friendly and augurs for a test of for a test of 4307

--From the Frying Pan into the Fire--

Support is at 4572 to 4527 where hearty day traders should buy for a good bounce at 4527 risk 150 pts. Under that support should appear at 4417.

Resistance is at 4717, an extended trade over augurs for a test of 4827 to 4867. Day traders can short at 4867 for a quick turn lower.. Risk 100 pts.
However a close over 4717 augurs for an eventual test of 4997.

-Stay tuned for Updates in the Meat Complex.-

On The DownSide, support is at 127-08 and 126-26 then 126-08 to 126-00

Day traders can buy at 126-26 for a bounce , risk 10 pts.

On the Upside: Resistance is at 127-27 and 128-00 to 128-08. Day traders can sell at 128-08 for a turn lower , risk 10 pts.

On the DownSide, Support is at 1115.50. A close under 1115.50 indicates a test of 1105 Below that support is at 1101 to 1096 where it should hold.

On the Upside, Resistance is at 1124.60 and 1130 , above that resistance is at 1133.50 and 1136 to 1137.00, day traders can sell at 1130, put your own risk on it. Beyond that resistance is at 1150 and 1154.70

Stay Tuned for SP500 Updates and Flashes .

Support is 8777 to 8762 then 8708 and 8683 to 8668 offer support.

Resistance should first appear near 8856 and 8871 then 8900.50 and 8934 to 8964. above that resistance is at 9044 to 9060 beyond that 9174 should cap a rally.